Preheat the oven to 350 degrees F (175 degrees C). Grease an 8x4-inch loaf pan.

Mix flour, baking soda, baking powder, salt, nutmeg, and cloves together in a large bowl.

Beat sugar and butter together with an electric mixer in a separate large bowl until smooth. Add apple butter and egg; continue beating until smooth. Stir in flour mixture until just combined. Fold in raisins and walnuts. Pour into the prepared loaf pan.

Bake in the preheated oven until a toothpick inserted into the center comes out clean, 40 to 50 minutes. Cool in the pan for 10 minutes before removing to cool completely on a wire rack.